Overview of POC-line
* Ethereum shows totally bearish view on market and moving to the self POC-line on 0.0199 level.
* Usually markets reverse above POC line or sell off this to the first support under POC.
Technical levels
* Now we see that this market continues falling wedge pattern (possible). And bottom line of this pattern is consistent with .0120 - .0180 empty volume space.
* Key level is .0242 if this level falls we go down to .0120 - .0140 levels with huge volume.
* Also it is reasonable to see some pullback around .0242 level.
Fundamental reasons
* There is a big uncertainty in the regulation of ICOs and SEC view.
* Ongoing projects are likely to face the distrust of some investors and start selling off their assets.
* Until a legal basis is formed for the regulation of ICOs, this market is waiting for a deep drop.
* Ethereum still has a number of technical limitations inhibiting platform scaling
Any positive are coming?
Positive things that can happen in 2019:
* Ethereum 2.0 looks like will fix all current technical issues
* SEC approving and ICOs regulation mechanism can push this market also
* Ethereum shows totally bearish view on market and moving to the self POC-line on 0.0199 level.
* Usually markets reverse above POC line or sell off this to the first support under POC.
Technical levels
* Now we see that this market continues falling wedge pattern (possible). And bottom line of this pattern is consistent with .0120 - .0180 empty volume space.
* Key level is .0242 if this level falls we go down to .0120 - .0140 levels with huge volume.
* Also it is reasonable to see some pullback around .0242 level.
Fundamental reasons
* There is a big uncertainty in the regulation of ICOs and SEC view.
* Ongoing projects are likely to face the distrust of some investors and start selling off their assets.
* Until a legal basis is formed for the regulation of ICOs, this market is waiting for a deep drop.
* Ethereum still has a number of technical limitations inhibiting platform scaling
Any positive are coming?
Positive things that can happen in 2019:
* Ethereum 2.0 looks like will fix all current technical issues
* SEC approving and ICOs regulation mechanism can push this market also